Several employment indicators for those ages 55+ improve in January

  Employment Overview According to the Bureau of Labor Statistics (BLS) January Employment Situation Summary, the unemployment rate for persons 55 and older decreased from 3.3 percent in December to 3.0 percent in January. The number of unemployed persons ages 55+ also decreased to 1.1 million, down from 1.2 million in December. The percentage of 55+ jobseekers considered long-term unemployed (those job searching for 27 weeks or more) declined from 30.6 percent in December to 24.8 percent in January. Overall …

Unemployment rate for those ages 55+ increases in December

  Employment Overview The Bureau of Labor Statistics (BLS) December Employment Situation Summary showed the economy added 148,000 jobs in December 2017—a decrease from the 252,000 jobs (revised up from 228,000) added in November. Jobs were added in the health care, construction, and manufacturing industries, and average hourly earnings rose by 0.3 percent, or 9 cents, in December. This compared with a 0.1 percent increase in average hourly earnings in November. Though the overall unemployment rate remained unchanged at 4.1 …

Employment for those ages 55+ holds steady in November

Employment overview The Bureau of Labor Statistics (BLS) November Employment Situation Summary showed the economy added 228,000 jobs—down slightly from the 244,000 jobs added in October (revised down from 261,000). Both the overall unemployment rate and the unemployment rate for persons 55 and older remained unchanged from October at 4.1and 3.1 percent, respectively. The number of unemployed individuals ages 55+ was also unchanged at 1.1 million and the labor force participation rate for those 55 and older increased slightly to …

Job market rebounds in October

  Employment overview After the strong impact of hurricanes Harvey and Irma in September, the job market rebounded in October, adding 261,000 jobs. Meanwhile, the labor force participation rate for those ages 55 and older decreased slightly to 39.8 percent. While the Bureau of Labor Statistics (BLS) October Employment Situation report showed the overall unemployment rate was down to 4.1 percent, it also showed a decline in the overall labor force participation rate (62.7 percent).  The employment rate (employment-population ratio) …

Economy loses 33,000 jobs in September

Employment overview The economy lost 33,000 jobs in September largely reflecting the impact of hurricanes Harvey and Irma. Despite the overall job loss, the labor force participation rate for those ages 55 and older decreased only slightly to 40.1 percent. The Bureau of Labor Statistics’ (BLS) September Employment Situation report showed the overall labor force participation rate edged up slightly to 63.1 percent.  The unemployment rate declined to 4.2 percent with 6.8 million persons remaining unemployed.  Much of the impact …

Fewer Jobs Added in August but Labor Force Participation of the 55+ Holds Steady

Employment overview Though hiring slowed in August, the labor force participation rate for those ages 55 and older rose slightly to 40.2 percent. The Bureau of Labor Statistics’ August Employment Situation Report found that the overall labor force participation rate remained unchanged at 62.9 percent and the unemployment rate was little changed at 4.4 percent with 7.1 million unemployed persons.  Jobs were added in manufacturing, construction, professional and technical services, health care, and mining. While the unemployment rate for those …